Net Savings Link Inc (OTCMKTS:NSAV) disclosed through its Chief Executive Steven Baritz that the company fully executed share exchange deal. It finalized the closing terms of the acquisition that was mentioned in the April 2 public announcement. Mr. Baritz said that the management is delighted to formally confirm the completion of purchase of Pyrotree Inc.
The details
The CEO of Net Savings further added that Pyrotree is one of the leading web development and software platform. It was prepared to meet the Point of Sale and compliance traceability software requirements of recreational and medicinal cannabis industry. There are five separate divisions that will offer peripheral resources including accountability systems, delivery and transportation tracking, credit card merchant accounts, supply chain websites and many more.
The process
Net Savings Link Inc (OTCMKTS:NSAV) is using an all-encompassing strategy to place in the State and Federal required compliance and traceability requirements of all the participants in the process. The list includes retailers, delivery networks, product developers, collectives and the growers. The participants list also extends to the end user of several products. The company intends to transform into a prepositioned and established firm as the industry standard for its traceability, software and web offering in the various states with any form of legalized marijuana.
The market
The recreational and medicinal cannabis market is growing at a rate that has considerably exceeded initial expectations. The expansion rate has resulted in the need of tracking and traceability offerings that can offer real time information to the service providers. Net Savings plans to lead the digital revolution in the cannabis market by providing end users and business owners with applications that can fill the existing void.
In last trading session, the stock price of Net Savings declined 25% to close the trading session at $0.00030. The sharp decline came at a massive volume of 456.12 million compared to average volume of 35.99 million.
